Dubai Becomes Property Haven with Series of Developer Moves
Dubai has become a 'mecca' for property investors after Dress & Sommer and Azizi Developments' actions. Arabian Business covered the former as it announced the launch of a global hospitality team in the region while Zawya brought news about the latter's participation at the International Property Show 2019, where they will showcase their range of developments.
Dress & Sommer will set up a hospitality team to be based in Dubai, extending the reach of their already-existing European arm. This division, according to reports, will cater to investors and owners in the region. Africa, Asia, the People's Republic of China, and the Middle East will be a targeted priority for the team, but anyone in the world is also welcome to invest in properties handled by the team.
This expansion is in response to the growing tourism in Dubai, where managing director of Global Hospitality, Filippo Sona, plans to conduct feasibility studies. The team will also cover a range of activities not limited to asset performance management, construction management, hospitality consulting, project management, and technical services.
The team aims to benefit from the expertise of the different members in the 3,200-strong employees under Dress & Sommer management. They also hope to make the most out of the local market knowledge, to make sure that they are offering the best in hospitality and in delivering project completion based on the customer's standards.
Azizi Developments, meanwhile, hopes to offer top-class deals during the International Property Show 2019. According to the report, the company is hoping that its diver's portfolio of residential developments in the region will be enough to develop an interest as well as create awareness for interested investors in the region.
Farhad Azizi, the company CEO, said that the International Property Show will help get them the opportunity to find customers who will be interested in the company's projects. In return, it will also expose them to interested parties who are looking for profitable deals that will make them company investors as well as buyers.
Dubai's tourism has been booming ever since it opened itself up to companies looking to develop investment properties. The value of construction projects related to tourism comes to around $200 billion. With increasing demand and the Expo2020 coming up, the timing for these two companies to invest and purchase properties in Dubai has never been better.